June 12, 2012 – SK Hynix announced a partnership with IBM to develop phase change random access memory (PCRAM) technology. (PCRAM writes data to memory faster than Flash.) According to the press release, “PCRAM is a type of non-volatile random-access memory that exploits the property of resistance in crystalline and amorphous states to store data. The state of resistance can remain intact even in a condition with no power. PCRAM’s performance is expected to surpass that of today’s NAND Flash by 100 fold while enhancing durability by 1,000 fold, and PCRAM will operate with low power like DRAM. With relatively simpler structure compared to other memory products, PCRAM will drive the production cost down considerably.”